Facebook Acquires ‘Libra’ Trademark for its Cryptocurrency Payment System

Social media giant Facebook has reportedly acquired rights to the “Libra” trademark for its private cryptocurrency project.

According to a source familiar with the matter, Facebook is recruiting financial firms and online merchants to develop its own cryptocurency cum digital payment system under the project and product code name – Libra or Project Libra.

The trademark acquisition is evident in the United States Patent and Trademark listing, which shows that the social media company had acquired rights to the name Libra in June 2018; as the trademark was previously held by a crypto tax company now named Lukka.

This latest notice comes on the heels of series of reports about Facebooks’s rumoured stablecoin project and activities of its blockchain/crypto team. On the other hand, the growing list of internet and social media companies seeking patents and joining the crypto industry; Twitter, WhatsApp and Telegram is a welcome the trend for widespread adoption even as they may offer centralized features.

Are you taking cue from the big players and getting actively involved in crypto?